A multi-million ounce gold project acquisition sparked much speculation in shares of a gold junior Tuesday. Here’s some small stocks making big moves on Tuesday, June 9, 2020 (as of 4 pm EST):
Artemis Gold Inc. (TSXV:ARTG) shares surged 29% to $2.34 on Tuesday after the gold junior agreed to acquire the Blackwater Gold Project in British Columbia from New Gold Inc, in consideration for $190 million in cash. The Blackwater Project has a current Proven & Probable open-pittable reserve of 8.2 million gold ounces grading 0.74 g/t.
As well, shares of Titan Medical Inc. (TSX:TMD) climbed as much as 18% before ending off 1% at $1.68 as the medical device company said it has entered into a settlement agreement with Naglreiter Consulting, LLC, to settle claims in the lawsuit pending in the United States District Court for the Southern District of Florida.
IntelGenx Corp. (TSXV:IGX) stock, meanwhile, continued to move higher Tuesday, up 16% to $0.44 following a 27% gain on Monday, after the drug delivery company reported that it has received a cannabis micro-processing license from Health Canada for the Company’s Montreal facility.
Finally, Datametrex AI Limited (TSXV:DM) shares rose as much as 18% after the Company announced that Seasun Biomaterial’s 20-minute rapid Nucleic Acid test kit, AQ-TOP COVID-19 Rapid Detection Kit, which is distributed by Datametrex, has received authorization from the U.S. Food & Drug Administration Emergency Use Authorizations for Medical Devices.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Artemis Gold Inc. (TSXV:ARTG) shares surged 29% to $2.34 on Tuesday after the gold junior agreed to acquire the Blackwater Gold Project in British Columbia from New Gold Inc, in consideration for $190 million in cash. The Blackwater Project has a current Proven & Probable open-pittable reserve of 8.2 million gold ounces grading 0.74 g/t.
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